Сredit Card with Bitcoin Rewards Is to Become a Reality Very Soon
This week, BlockFi, a crypto lending company, announced the upcoming release of its rather unusual credit card – the Bitcoin Rewards Credit Card. The card will become the first-ever credit card with cryptocurrency rewards.
Until now, credit cards’ rewards programs could offer cashback, points, or miles. But earning credit card rewards in the form of bitcoin is something new. Still, cryptocurrency cannot be called a completely new form of card rewards. There are several prepaid debit cards that offer such rewards programs.
It is known that the Bitcoin Rewards card will be issued by Evolve Bank & Trust on the Visa network. Approved applicants can earn 1.5% cash back on all purchases that will automatically be converted to bitcoin and placed into a BlockFi account every month. The accumulated bitcoin then may earn interest, be traded, used as collateral toward a crypto-backed loan, or withdrawn.
The card is expected to come with a sign-up bonus of $250 in bitcoin. To get this offer, cardholders will need to spend $3,000 with the card within the first three months from account opening.
As for the Bitcoin Rewards Credit Card’s rates and fees, the only thing that has already been disclosed is the amount of the annual fee. It will be equal to $200.
The card should be issued in spring 2021. It will be available to US residents with the exception of New Yorkers. Such a decision is conditioned by regulatory restrictions of the state. At the moment, it is already possible to join the waitlist at the official website. However, until January, this option is only available to current BlockFi customers with funded BlockFi Interest Accounts.
Latest Credit Card Rewards News
Discover’s cash back bonus categories change every quarter, allowing cardholders to consistently have the opportunity to earn elevated cash back. What’s important is that Discover includes categories that most people can use. The Discover categories for the fourth quarter of 2024 are just right for shoppers looking to kick off the holiday gift-giving season or […]
At the end of July, Citi and American Airlines introduced one of their best-in-class product revamps. Continuing their longstanding partnership, the Citi® / AAdvantage® Executive World Elite Mastercard® went through a number of significant changes starting July 23. These changes include new statement credits, expanded opportunities to earn miles and loyalty points, and higher annual […]
According to recent surveys data, more than half of Americans begin preparing for Christmas festivities as early as in October. A fair percentage of customers are planning to shop at Walmart this holiday season, all because of Walmart’s low prices, large and diverse selection of items. Now, eligible U.S. Citi cardmembers can use Shop with […]
M1 Finance has made its popular Owner’s Rewards Card even more enticing with seven new brands to earn accelerated cash back on purchases. The M1 Owner’s Rewards Visa® Signature Card is one of the more tempting fintech and investment rewards credit cards on the market today. Launched in the summer of 2021, the card offers […]
Rotating category credit cards are cash back credit cards that offer their highest cash back percentage in shopping categories that rotate on a regular basis, often quarterly. The major credit card issuers have already opened registration for Q1 2022 rotating bonus categories on their popular cash back credit cards. The first quarter is active from […]
